Current · Source: Reserve Bank of India · RBI/2011-12/485 · issued 04 Apr 2012 · ~1 min read
Quick answerRBI directs all NBFCs to update their records with the latest UN 1988 Sanctions List (Taliban-linked individuals/entities). Before opening new accounts, check customer names against this list; also scan existing accounts for matches.
Sanctions-list safety note. This circular refers to a specific UN Security Council / UAPA designated-entities list update as it stood on the date above — sanctions lists change often, and a newer update almost certainly exists today. Never use this page, or any single dated circular, as your current screening list. Always screen against the live, current list at the official UAPA proscribed-organisations list and the UN Consolidated List, and confirm the obligations for your bank on the official rbi.org.in source below.
The rule, in the simplest words
Update your internal sanctions list with the latest UN 1988 Sanctions List from the UN website.
Before opening any new account, verify the proposed customer's name against the updated list.
Scan all existing accounts to identify and report any matches with the updated list.
Follow the procedures under Section 51-A of UAPA, 1967, as referenced in the circular title.
How it plays out — a real example
As an NBFC compliance officer in Indore, Rohan must verify the name of a new customer, Ali, against the updated UN 1988 Sanctions List before opening his account. Rohan checks the UN website and finds Ali's name on the list, so he cannot open the account. Rohan also scans existing accounts and finds a match with another customer, which he reports to his supervisor.
What changed
The Chairman of the UN Security Council's 1988 Committee issued a note dated February 14, 2012, updating the sanctions list of individuals and entities linked to the Taliban. RBI circular DNBS(PD).CC. No 268/03.10.42/2011-12 dated April 04, 2012, requires NBFCs to incorporate these updates into their compliance checks.
What it means for you
NBFCs must now use the revised UN list for customer due diligence. This tightens screening for both new and existing accounts to prevent any association with sanctioned Taliban-linked entities. Non-compliance could lead to regulatory action.
What you must do
Update your internal sanctions list with the latest UN 1988 Sanctions List from the UN website.
Before opening any new account, verify the proposed customer's name against the updated list.
Scan all existing accounts to identify and report any matches with the updated list.
Follow the procedures under Section 51-A of UAPA, 1967, as referenced in the circular title.
Who it affects
All Non-Banking Financial Companies (NBFCs), Residuary Non-Banking Companies (RNBCs)
❓ Common questions
Where can I find the updated UN 1988 Sanctions List?
The complete list is available on the UN website at http://www.un.org/sc/committees/1988/list.shtml.
What should I do if I find a match in an existing account?
You must follow the procedures under Section 51-A of UAPA, 1967, and report to the relevant authorities as per RBI instructions.
📜 Read the original circular — full text as issued by RBI
RBI/2011-12/485
DNBS (PD).CC. No 268/03.10.42 /2011-12
April 04, 2012
All Non Banking Financial Companies /
Residuary Non Banking Companies
Dear Sir,
Implementation of Section 51-A of UAPA, 1967-Updates of the UNSCR 1988 (2011) Sanctions List
Please refer to DNBS(PD).CC. No 262/03.10.42 /2011-12 dated March 20, 2012 . The Chairman of UN Security Council's 1988 Committee has issued a note dated February 14, 2012 ( copy enclosed ) regarding changes made in the “1988 Sanctions List”, i.e. list of Individuals and entities linked to Taliban.
2. All NBFCs are required to update the list of individuals/entities as circulated by Reserve Bank and before opening any new account, it should be ensured that the name/s of the proposed customer does not appear in the list. Further, NBFCs should scan all existing accounts to ensure that no account is held by or linked to any of the entities or individuals included in the list.
3. The complete details of the said list are available on the UN website:
http://www.un.org/sc/committees/1988/list.shtml
Yours faithfully,
(Dr Tuli Roy)
Deputy General Manager
Encl: as above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2011-12/485 · issued 04 Apr 2012. The plain-English explanation above is BankPulse’s own independent summary.
Example: if you are a Compliance officer at a bank this circular applies to (All Non-Banking Financial Companies (NBFCs), Residuary Non-Banking Companies (RNBCs)), your first concrete step on “NBFCs Must Update UN Taliban Sanctions List” is: “Update your internal sanctions list with the latest UN 1988 Sanctions List from the UN website.” (RBI issued this 04 Apr 2012).
Circular: RBI/2011-12/485 -- NBFCs Must Update UN Taliban Sanctions List
Issued: 04 Apr 2012
Action required: Update your internal sanctions list with the latest UN 1988 Sanctions List from the UN website.
Action required: Before opening any new account, verify the proposed customer's name against the updated list.
Action required: Scan all existing accounts to identify and report any matches with the updated list.
Action required: Follow the procedures under Section 51-A of UAPA, 1967, as referenced in the circular title.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=7111&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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